The First National Bank of Ipswich in Ipswich, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


The First National Bank of Ipswich - Overview

  • General
  • FDIC Certificate #: 2595
    Status: Active
    Federal Reserve ID: 442806
    Bank Holding Company (Regulatory Top Holder): Brookline Bancorp, Inc. (RSSDID: 2631510, Location: Brookline, MA)
    Date Established: July 25, 1892
    WWW: http://www.fnbi.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 12749
    FDIC's unique #: 1683
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: June 01, 2010
    Last Structure Change Process Date: June 01, 2010
    Last Data Update: June 01, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 31 Market Street, Ipswich, MA 1938
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Peabody, MA (#37764)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $282.6 mil
    Equity capital: $33.7 mil
    Deposits held in domestic offices: $223.7 mil
    Return on assets (ROA): 0.21% ($0.6 mil)
    Quarterly return on assets: 0.22% ($0.6 mil)
    Return on Equity (ROE): 1.75% ($0.6 mil)
    Quarterly return on equity: 1.81% ($0.6 mil)
    Net income: $0.6 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.35% ($989.1 mil)
    Quarterly Pretax return on assets: 0.37% ($1,045.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 70Total employees (full-time equivalent)
  • $282,591Total assets
  • $20,354Cash and due from depository institutions
  • $15,691Interest-bearing balances
  • $15,325Securities
  • $23,308Federal funds sold & reverse repurchase agreements
  • $198,936Net loans & leases
  • $405Loan loss allowance
  • $0Trading account assets
  • $9,842Bank premises and fixed assets
  • $665Other real estate owned
  • $6,715Goodwill and other intangibles
  • $282,591Life insurance assets
  • $7,446All other assets
  • $248,861Total liabilities and capital
  • $223,736Total liabilities
  • $155,953Total deposits
  • $223,736Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 8349.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $15,147Trading liabilities
  • $0Other borrowed funds
  • $1,629Subordinated debt
  • $33,730All other liabilities
  • $33,730Total equity capital
  • $33,730Total bank equity capital
  • $0Perpetual preferred stock
  • $2,800Common stock
  • $30,248Surplus
  • $682Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,727Income earned, not collected on loans
  • $0Earning assets
  • $725Long-term assets (5+ years)
  • $253,260Average Assets, year-to-date
  • $77,561Average Assets, quarterly
  • $273,960Volatile liabilities
  • $279,062Insider loans
  • $195,034FHLB advances
  • $270,508Loans and leases held for sale
  • $712Unused loan commitments
  • $712Tier 1 (core) risk-based capital
  • $25,256Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $29,399Restructured Loans and leases
  • $494Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,487Total interest income
  • $1,282Total interest expense
  • $8,205Net interest income
  • $424Provision for loan and lease losses
  • $1,641Total noninterest income
  • $0Fiduciary activities
  • $797Service charges on deposit accounts
  • $0Trading account gains & fees
  • $844Additional noninterest income
  • $8,467Total noninterest expense
  • $4,304Salaries and employee benefits
  • $909Premises and equipment expense
  • $3,254Additional noninterest expense
  • $955Pre-tax net operating income
  • $0Securities gains (losses)
  • $391Applicable income taxes
  • $564Income before extraordinary items
  • $0Extraordinary gains - net
  • $564Net income attributable to bank
  • $0Net charge-offs
  • $564Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.87%Yield on earning assets
  • 0.52%Cost of funding earning assets
  • 3.35%Net interest margin
  • 0.67%Noninterest income to earning assets
  • 3.46%Noninterest expense to earning assets
  • 0.21%Net operating income to assets
  • 0.21%Return on assets (ROA)
  • 0.35%Pretax return on assets
  • 1.75%Return on equity (ROE)
  • 1.75%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 79,149Assets per employee
  • 4.04%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.20%Loss allowance to noncurrent loans
  • 10.87%Noncurrent assets plus other real estate owned to assets
  • 1.55%Noncurrent loans to loans
  • 1.87%Net loans and leases to deposits
  • 88.92%Net loans and leases to core deposits
  • 89.68%Equity capital to assets
  • 11.94%Core capital (leverage) ratio
  • 9.34%Tier 1 risk-based capital ratio
  • 12.95%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $273,960Average earning assets
  • $32,266Average equity
  • $244,847Average loans

Total Fiduciary and Related Assets (December 31, 2005)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $47,097Managed Assets
  • 1Number of Accounts
  • $47,085Personal trust and agency accounts
  • $21,153Employee benefit-defined contribution accounts
  • $2,036Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $912Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $22,984Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 117Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $12Other retirement accounts
  • $12Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 6 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    01683The First National Bank Of Ipswich31 Market Street, Ipswich, MA 1938July 25, 1892Full Service Brick and Mortar
    1193532Essex Branch8-10 Martin Street, Essex, MA 1929April 15, 1957Full Service Brick and Mortar
    4193535Gloucester Branch207 Main Street, Gloucester, MA 1930May 01, 1980Full Service Brick and Mortar
    6193537Newburyport Branch155 State Street, Newburyport, MA 1950October 03, 1996Full Service Brick and Mortar
    7193538Route 1 Rowley Branch144 Newburyport Turnpike, Rowley, MA 1969September 12, 1998Full Service Brick and Mortar
    1447755Boston Branch33 State Street, Boston, MA 2109March 27, 1978Full Service Brick and Mortar

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